UPDATE: Wunderlich Securities Raises Price Target on Cisco Systems to $24
According to Wunderlich Securities, Cisco Systems (NASDAQ: CSCO) price target is lowered to $24.
Wunderlich Securities said that Cisco Systems (CSCO) reported 2Q12 operating profit upside of nearly 11% with product sales that exceeded our forecast by 3.7%. “We believe further growth and valuation expansion to levels comparable to the S&P 500 are likely and maintain our Buy rating.”
Cisco Systems closed yesterday at $20.43.
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